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UTI Mutual Fund has launched UTI Long Duration Fund, an open-ended debt scheme investing in debt and money market instruments such that the portfolio Macaulay Duration is above 7 years.
The scheme will have a relatively high interest rate risk and relatively low credit risk. The NFO opens on March 6 and closes on March 15.
In a press release, Vetri Subramaniam, CIO, UTI MF said, “Long duration fixed income funds are an appropriate option for investors with long term financial goals, such as saving for retirement or funding child’s education. These funds can provide a relatively stable source of income, compounding and potential capital appreciation over a longer investment horizon.”
